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Deals keep on coming despite no let-up in volatility
Monday evening sale is latest block trade
Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
Offer came as markets recovered and volatility fell
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The UK Treasury sold 580m ordinary shares in NatWest on Monday night at £1.90, a 3.6% discount to the closing price. The sale of the roughly 5% stake for £1.1bn lowered the government's holding in NatWest to 54.8%. -
A big night for the European blocks market on Tuesday took Europe’s equity capital markets by surprise, with almost €2.9bn printed across three accelerated deals. The success of the sales has given the market hope that there are more opportunities to bring big block trades, writes Sam Kerr.
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Bombardier has exited Alstom, the French maker of rolling stock, having sold the last of its shares through a €506m accelerated bookbuild on Tuesday night.
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A €1.15bn block trade in shares of Daimler, the German carmaker, was greeted warmly by investors on Tuesday night and has traded well in the aftermarket on Wednesday.
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A consortium of shareholders in Delivery Hero, which had acquired a stake in the company following its acquisition of South Korean tech firm Woowa Brothers, sold a 9.8m share block in the German food delivery company on Tuesday night.
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South African investment company Remgro has reduced its stake in FirstRand, one of the country’s largest financial services groups, via an accelerated bookbuild.
